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<p>[QUOTE="GoldFinger1969, post: 3718866, member: 73489"]"Full faith and credit" means something. <b><span style="color: #0000ff">The dollar is the reserve currency for trade, central banks, and most businesses.</span></b></p><p><br /></p><p><b><u>If you need to park $30 billion over the weekend or for a few days, you can't do it in Euro-denominated paper, or Chinese or Russian paper, or even British gilts or notes.</u></b> </p><p><br /></p><p>ONLY the U.S. Treasury and MBS markets have the size and liquidity to handle that type of institutional purchase (and it happens all the time). If you parked that amount or even a fraction for short-term investing and Russia or China imposed capital controls, you'd be updating your resume. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>
[QUOTE="GoldFinger1969, post: 3718866, member: 73489"]"Full faith and credit" means something. [B][COLOR=#0000ff]The dollar is the reserve currency for trade, central banks, and most businesses.[/COLOR][/B] [B][U]If you need to park $30 billion over the weekend or for a few days, you can't do it in Euro-denominated paper, or Chinese or Russian paper, or even British gilts or notes.[/U][/B] ONLY the U.S. Treasury and MBS markets have the size and liquidity to handle that type of institutional purchase (and it happens all the time). If you parked that amount or even a fraction for short-term investing and Russia or China imposed capital controls, you'd be updating your resume. :D[/QUOTE]
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